Bank of New York Mellon Corp Reduces Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Bank of New York Mellon Corp cut its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 492,111 shares of the business services provider's stock after selling 35,310 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Healthcare Services Group worth $5,716,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Jane Street Group LLC boosted its stake in shares of Healthcare Services Group by 80.8% in the 3rd quarter. Jane Street Group LLC now owns 175,444 shares of the business services provider's stock valued at $1,960,000 after buying an additional 78,391 shares during the period. JPMorgan Chase & Co. increased its position in shares of Healthcare Services Group by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider's stock valued at $8,642,000 after purchasing an additional 76,456 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Healthcare Services Group by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider's stock valued at $19,674,000 after purchasing an additional 50,375 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Healthcare Services Group by 86.5% during the 3rd quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider's stock worth $9,015,000 after purchasing an additional 374,301 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Healthcare Services Group by 39.9% during the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider's stock worth $5,858,000 after purchasing an additional 159,878 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have recently commented on HCSG shares. Benchmark reiterated a "buy" rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, December 19th. Macquarie started coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They issued a "neutral" rating and a $13.00 price target on the stock. Finally, StockNews.com downgraded shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.00.

Healthcare Services Group Stock Performance

NASDAQ HCSG traded down $0.37 during trading on Thursday, reaching $10.56. The company's stock had a trading volume of 181,720 shares, compared to its average volume of 444,785. Healthcare Services Group, Inc. has a twelve month low of $9.70 and a twelve month high of $12.99. The firm has a market cap of $776.11 million, a price-to-earnings ratio of 19.62 and a beta of 0.66. The business's fifty day moving average price is $11.01 and its 200-day moving average price is $11.23.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its earnings results on Wednesday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.04). Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. As a group, sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.